Brown Faces Quandary as California Tax Revenue Beats Forecasts
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California Governor Jerry Brown today will unveil his plan to erase a $15.4 billion deficit, as unanticipated revenue growth undercuts his message that the state needs higher taxes to offset spending cuts.
Brown, 73, will revise the $84.6 billion general-fund budget he introduced in January. California governors are required to update their spending plans in May with new revenue projections for the fiscal year starting in July. Receipts as of April 30 were more than $2 billion above forecasts.